910 E Prospect St · Seattle, WA 98102

$1,095,000

3 bd · 3.0 ba · 2,400 sqft · MultiFamily public records · 2 Days on market

Built 1905 4,000 sqft lot Est $1298k · 16% under

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Why this score? — see what drove the B- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +23.3/30.0
• ARV discount +14.5/15.0
• DSCR +7.5/10.0
• Schools +6.1/10.0
• 1% rule +5.6/10.0
• Livability +3.8/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 4 units. confirmed

Listing remarks

The Mansion District Fourplex is a charming 4-unit multifamily property nestled in the heart of Seattle’s desirable North Capitol Hill neighborhood next to Volunteer Park. Two units are nonconforming units, but can be permitted with SDIC as a value-add opportunity (buyer to verify). This historic gem, built in 1905, blends timeless appeal with modern potential, offering investors a rare chance to capitalize on one of the city’s most desirable areas. Whether you’re looking to boost rental income through market-rate adjustments, legalize the two lower non-conforming units for added value, owner-occupy a unit while generating passive revenue, or redevelop the site into higher

Key facts

• Historic gem
• Multifamily property
• 4,000 sq ft lot

Tags

• MULTIFAMILY PROPERTY
• NEXT TO VOLUNTEER PARK
• VALUE-ADD OPPORTUNITY
• HISTORIC GEM

Property features AI

Finance

• Other: Property listed as residential income / multi-family
• Financial info: Gross scheduled income approximately $78,060; Gross adjusted income approximately $75,718; Total monthly income approximately $6,505; Net operating income approximately $53,745; Total annual expenses approximately $21,973; Insurance expense approximately $2,500; Other expenses approximately $3,000; Gross rent multiplier about 14.03; Listing terms: Cash or Conventional
• HOA & community: No HOA information provided

Exterior

• Parking: Two uncovered parking spaces
• Security: Fully fenced property
• Utilities: Electric service; Sewer connected; Water/sewer/garbage fee recorded
• Home design: Residential income property; Multi-family (duplex/4-unit building); Three stories; Electric energy source
• Construction: Brick, stone and wood construction; Composition roof; Poured concrete foundation; Duplex/structure type
• Exterior features: Brick, stone and wood exterior; Curbs, paved access and sidewalks; Fully fenced site

Interior

• Kitchen: Kitchens in each unit (appliance specifics not provided)
• Bedrooms: One 2-bedroom unit; One 1-bedroom unit; Other units are studios/efficiencies
• Flooring: Ceramic tile; Vinyl plank
• Bathrooms: All units have 1 bathroom
• Heating & cooling: Forced air heating; No central air conditioning
• Interior features: Ceramic tile and vinyl plank flooring; Fully fenced
• Laundry & utility: Coin-operated laundry on-site

What this means for you Summary

Snapshot

• This is a 4 × 3-bed/4.0-bath units multifamily listed at $1.09M.

Deal economics

• At list price, monthly cash flow is $2k ($24k/yr) — positive. Per door: $502/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($12k rent vs $1.09M).
• Cap rate 8.5% vs local median 1.6% in Seattle — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 75/100 on livability (#166 in WA, #4,033 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, employment A+; Watch: crime F, cost of living F.
• Seattle Public Schools (urban): math 64% / reading 72% proficiency, ranked #19 of 291 in WA (top 6%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+2.5%/yr); 192 active listings in the ZIP; 34 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 10,555 units permitted in King County in 2024 (7,119 in 5+ unit buildings).
• At $11,608/mo this rent would consume 121% of the median local household income ($115k/yr) (locally 1711% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $8k of loan paydown is wiped out by about $33k of value loss. Plan a longer hold.
• King County population projected at +44% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 26y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $852k; 29% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1905 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $1,095,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1905 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
6. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
8. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.06% ✓
• Cap rate: 8.49%
• Cash-on-cash: 7.85%
• DSCR: 1.35
• GRM: 7.9

CMA / ARV

• ARV (on-the-fly): $1,298,400
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
611 20th Ave E	0.73mi	3/2.2	2,680 (+12%)	8mo	$1,450,000	$541	37
1202 E Denny Way	0.71mi	3/2.0	2,620 (+9%)	17mo	$1,070,000	$408	33

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 2.52% rent growth · sell at horizon

5-year hold

• IRR: -4.9%
• Equity multiple: 0.82×
• Total profit: $-55,320
• Equity at exit: $163,268

10-year hold

• IRR: 4.3%
• Equity multiple: 1.30×
• Total profit: $93,381
• Equity at exit: $94,676

Cash invested: $306,600 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (CITY): 0 Strongly Tenant-Friendly
• State Washington: 28 Tenant-Leaning · D+8
• County: — inherits STATE
• City Seattle: 0 Strongly Tenant-Friendly · D+52

Just Cause + Relocation Assistance + Source of Income + First in Time.

Methodology + full state rankings →

ZIP-level market 98102

• Rents YoY: 2.5%
• Active inventory: 192
• Price-to-rent: 31.4×

Monthly cashflow live

• Estimated rent: $11,608 high
• Mortgage (P&I): −$5,742
• Tax from tax record: −$966 /mo · $11,588/yr
• Insurance: −$456
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,438
• Net cashflow: $2,006

Break-even live

Break-even rent $9,069

Max offer price $1,095,000

Occupancy floor 78%

Sensitivity live

Price	-10% $2,626	-5% $2,316	+0% $2,006	+5% $1,696	+10% $1,386
Rent	-10% $1,089	-5% $1,548	+0% $2,006	+5% $2,465	+10% $2,923
Rate	-1.0pp $2,558	-0.5pp $2,285	base $2,006	+0.5pp $1,722	+1.0pp $1,434

4-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 4× units	3	4	$11,608
Total (4 units)			$11,608

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $273,750
• Closing costs: $32,850
• Reserves months: —
• Total cash needed: —

Rent comps 34 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1005 E Roy St Seattle, WA	3.0	2.0	1627	$4,795	$2.95	1d	1	0.27mi
1522 E Howe St Seattle, WA	3.0	3.5	2460	$8,500	$3.46	16d	1	0.63mi
2226 Harvard Ave E Seattle, WA	3.0	2.5	3060	$8,950	$2.92	3d	1	0.71mi
2229 Boylston Ave E Seattle, WA	3.0	2.5	1720	$5,500	$3.20	44d	1	0.71mi
224 Pontius Ave N Seattle, WA	4.0	1.0–3.5	2938	$12,336	$4.20	1d	119	0.79mi
2364 Franklin Ave E Unit B Seattle, WA	3.0	2.0	1680	$4,750	$2.83	44d	1	0.89mi
112 Boren Ave N Seattle, WA	1.0–3.0	1.0–3.0	1058	$8,120	$7.67	1d	54	0.95mi
1823 Minor Ave Seattle, WA	2.0	1.0–2.0	1083	$6,923	$6.39	1d	28	0.96mi
2019 Boren Ave Seattle, WA	3.0	1.0–3.0	1420	$17,995	$12.67	1d	15	1.01mi
1708 18th Ave Seattle, WA	3.0	3.5	1780	$4,995	$2.81	1d	1	1.02mi
2010 Terry Ave Seattle, WA	2.0	1.0–2.5	1415	$17,995	$12.72	1d	27	1.03mi
2618 Eastlake Ave E Unit B Seattle, WA	3.0	2.5	1971	$5,007	$2.54	44d	1	1.04mi
615 E Pike St #402 Seattle, WA	2.0	2.5	1761	$8,500	$4.83	3d	1	1.05mi
120 Westlake Ave N Seattle, WA	1.0–2.0	1.0–2.5	1221	$7,156	$5.86	1d	17	1.05mi
137 23rd Ave E Seattle, WA	3.0	2.5	1740	$4,950	$2.84	14d	1	1.05mi
1713 Dexter Ave N Unit 501 Seattle, WA	2.0	2.0	1750	$4,245	$2.43	1d	1	1.09mi
113 24th Ave E Unit A Seattle, WA	2.0	2.5	1606	$3,800	$2.37	12d	1	1.13mi
2038 8th Ave N Seattle, WA	2.0	1.5	1600	$3,950	$2.47	1d	1	1.14mi
1634 21st Ave Seattle, WA	2.0	2.0	1600	$3,800	$2.38	1d	1	1.17mi
809 Olive Way Seattle, WA	1.0–2.0	1.0–2.0	1379	$7,889	$5.72	1d	12	1.18mi
1510 Taylor Ave N Seattle, WA	3.0	2.5	1697	$3,995	$2.35	21d	1	1.18mi
2613 E Madison St Seattle, WA	2.0	2.5	1700	$4,075	$2.40	24d	1	1.19mi
501 Highland Dr Unit 402 Seattle, WA	3.0	2.0	1915	$4,950	$2.58	21d	1	1.22mi
312 27th Ave E Unit A Seattle, WA	3.0	2.5	1595	$4,695	$2.94	44d	1	1.23mi
113 27th Ave E Seattle, WA	3.0	3.0	1928	$4,695	$2.44	44d	1	1.27mi
200 27th Ave E Seattle, WA	4.0	3.0	2080	$3,800	$1.83	1d	1	1.27mi
2109 Aurora Ave N Seattle, WA	4.0	2.0	2490	$4,550	$1.83	1d	1	1.27mi
2610 Glenwilde Pl E Seattle, WA	3.0	2.0	2200	$3,995	$1.82	44d	1	1.37mi
1920 4th Ave Seattle, WA	2.0	2.0	1955	$7,950	$4.07	1d	1	1.40mi
1920 4th Ave Seattle, WA	1.0–2.0	1.0–2.0	1432	$7,950	$5.55	24d	3	1.40mi
1920 4th Ave Seattle, WA	1.0–2.0	1.0–2.0	1432	$7,950	$5.55	10d	2	1.40mi
2116 4th Ave Seattle, WA	2.0	1.0–2.0	1164	$4,495	$3.86	14d	19	1.40mi
2315 4th Ave Seattle, WA	3.0	1.0–2.0	1052	$8,495	$8.08	1d	9	1.45mi
702 Spring St Seattle, WA	3.0	1.0–2.0	1172	$7,115	$6.07	1d	34	1.48mi

Listing history 3 events

1. 2026-06-21
   days on market $1,095,000 Active 2 DOM
2. 2026-06-18
   remarks 681-char remark
3. 2026-06-18
   listed $1,095,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast WA · Resets to sale price

• Current annual tax: $11,588 · $966/mo
• Projected year-2 tax: $11,588 · $966/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 6 d/yr ≥86°F today · 13 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 7/10 Severe 11 unhealthy d/yr today · 11 by 30 yrs out

Taxation est. · year 1

• Rental income: $139,296
• − Mortgage interest: −$61,337
• − Property taxes: −$11,588
• − Insurance: −$5,475
• − Repairs & maintenance: −$11,144
• − Management: −$11,144
• − Depreciation: −$31,855
• Taxable income: $6,754
• Est. tax owed @ 24.0%: −$1,621
• After-tax cash flow: $22,452/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Seattle Public Schools
• NCES district ID: 5307710
• Math proficiency: 64% ▼ -1.00%
• Reading proficiency: 72% ▬ 0.00%
• Median HH income: $68,695
• Composite: 60.76/100
• National rank: #1649
• State rank: #19 of 291 in WA

Livability — Seattle

• Score: 75/100
• State rank: #166
• US rank: #4033

Category grades

Amenities A+ Commute A+ Cost of living F Crime F Employment A+ Housing B Health & safety A+ User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Seattle, WA
• County: King County · 2,251,916 people
• City population: 706,262
• Metro: Seattle-Tacoma-Bellevue, WA
• Population (ZIP): 27,333
• Household income: $114,925
• Rent vs Own: 73.0% rent · 27.0% own
• Severe rent burden: 1711.0

Population outlook (King County) Hauer SSP2

• Today (2025): 2,576,485 people
• By 2030: 2,803,316 · +8.8%
• By 2040: 3,255,921 · +26.4%
• By 2050: 3,706,444 · +43.9%
• By 2075: 4,746,063 · +84.2%
• By 2100: 5,407,730 · +109.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (68%)
• Race & ethnicity: White 68% Asian 12% Two or more races 12% Hispanic / Latino 8% Black 2%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Italian 4% Portuguese 3% Slovak 3%
• Foreign-born: 15% · Canada, China, South Korea
• Languages at home: 84% English-only · Spanish 4% Chinese 3% Other Indo-European 2%

Political lean MEDSL · King

• 2024 margin: Solid D (+51.7) · D 74.2% · R 22.5% · Other 3.4%
• 2008→2024 swing: +9.6pp toward D · 2008: 42.1pp · 2024: 51.7pp
• All cycles: 2024: D+51.7 2020: D+52.7 2016: D+50.4 2012: D+39.9 2008: D+42.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -386.18%
• Current HPI: 213.5569
• Rent YoY: ▲ 2.52%
• Metro: Seattle-Tacoma-Bellevue, WA
• State GDP YoY: ▲ 4.65%
• F500 in state: 22

Industry mix (Fortune 500 HQ in WA)

Industry	F500 HQs	Revenue
▸Retail	2	$269B
▸Technology / Retail	1	$638B
▸Technology	1	$245B
▸Telecommunications	1	$38B
▸Food / Beverage	1	$36B
▸Automotive / Trucks	1	$34B

Price history

+200.0% since first listed

11 events — show timeline

• 2026-06-18 Listed $1,095,000 NWMLS as Distributed by MLS Grid
• 2020-04-15 Delisted — NWMLS as Distributed by MLS Grid
• 2020-01-22 Listed — NWMLS as Distributed by MLS Grid
• 2019-12-13 Delisted — NWMLS as Distributed by MLS Grid
• 2019-10-09 Listed — NWMLS as Distributed by MLS Grid
• 2015-04-30 Sold (Public Records) $852,000 Public Records
• 2015-04-30 Sold (MLS) $852,000 NWMLS as Distributed by MLS Grid
• 2015-04-02 Pending — NWMLS as Distributed by MLS Grid
• 2015-03-31 Listed $850,000 NWMLS as Distributed by MLS Grid
• 2000-05-10 Sold (MLS) $353,000 NWMLS as Distributed by MLS Grid
• 2000-04-25 Listed $365,000 NWMLS as Distributed by MLS Grid

Property tax history

+7.2%/yr

Latest (2025): $11,588 · +6.7% YoY. Source: county tax records.